derivatives is a prime example, congress passed a law that provided anybody. as a result, we got into the crisis, we had hundreds of trillions of derivatives that were based on these mortgages. how the derivatives performed would be based on how mortgages were performing. and nobody had good information about this market. those are key mistakes rubbermaid leading up to the crisis. -- does for key mistakes that were made leading up to the crisis. the regulators should have stood up to it. the pressure was relentless from the industry. and you still see it now as they tried to implement dodd-frank. tavis: you were a regulator. how much of this crisis had to do with regulators who just got rolled? >> a lot of it did. i have some anecdotes. you cannot win with the industry. not all banks -- there were some banks that are not part of the problem. there are some banks trying to help the reform process. a lot of industry lobbyists to weight -- who were in an irresponsible part of the crisis. the fdic was pushing very hard to tighten lending standards for subprime loa